normthefedup

Break Up the Big Banks

So Avery, what you're saying is that it's NOT ok for the government to bail out the banks (and let's not forget that in most cases they took common stock from which if sold, the government will make an ENORMOUS profit) , it's NOT ok for them to pay back the loans, it's NOT ok to get out from under the government's thumb, but it IS ok for the government to still have enough control to break them up. On what premise? A decree from the Pharaoh? So let it be written, so let it be done?

Financial Stocks Are Ready for Their Pullback

Interesting concept, author. However, in your perpetual moaning about the dilemma that banks, credit card agencies et al find themselves "trapped" in, you keep harping on the "US consumer." If they are, indeed, making money in other areas of the world, doesn't that profit drop into the same pot as the supposed horrendous losses in the US? Don't ALL companies at one time or another, experience losses at one division while making money at another and, overall, have a good corporate profit performance? You cannot emphasize US losses without looking at the overall picture. US oil consumption is down....OK....but China is picking up. Consequently, the price of oil broke $54 a barrel this morning. According to your philosophy, oil should be about $10 a barrel because the US demand is down. Look at the big picture and wake up.

Why the U.S. Prefers Quasi-Nationalization of Big Banks

Do you realize the incredible damage that full nationalization of major banks would have on the thousands of retirement funds in this country? Or the complete panic that would result in the stock market not to mention the run on banks that unknowing citizenry would almost certainly do? Articles like this one simply prolong the agony.

Let's Hurt the American Financial Services Industry

Felix: why don't you vent your venom at the ratings agencies? S&P, Moody's, et al? These useless bastards sold us ALL down the river. Including the bloated banks that your contend caused this problem. I tend to think of myself as a "savvy investor" and I bought Fannie preferreds last March. All based on the "implied backing of the US government and that all-powerful AAA rating." These a**holes have in truth missed the carnage that THEY caused. AAA ratings BOUGHT with monies paid to the rating agencies who prostituted themselves to the entities that invented the garbage that has cost us all so dearly. You're beating the wrong VICTIM here. You have plenty of venom to spew, son. Spew SOME of it in the direction it should be spewed.

A Cool $200 Billion for Bank of America?

I think it's inappropriate for anyone to do THIS much speculating about an entity that is so integral to the financial markets in this country. Especially at a time when the market is so fragile. More facts, less conjecture from all parties will lead to less uncertainty and this mess will end that much quicker. Good piece author, but too big a guessing game for all of us at this time.

Exclusive: Big Banks' Recent Profitability Due to AIG Scam?

I gotta be honest....I'm lost on this one.

How to End the Credit Crisis

All good points and well presented, author. I've been a proponent (and made my opinion known to everyone I THOUGHT was a listener and decisionmaker) of changing the mark to market rules since I perceived this "crash" coming. At least as I see it, it would have dramatically altered the bank writedowns and PERCEPTION of the problem we're in. Granted, this is bad, but, as they say, perception is reality and I'm convinced that changes in the rules and consequently, the perception of how bad this really is, would have mitigated some of the damage early on and possibly saved us the radical fall that we've taken. Monday morning quarterbacking, I know. Good luck to all of us and a good piece, author.

Should Healthy Banks Give Back Their TARP Funds?

...and how many articles will we see about this topic Felix? Stop bottom feeding. I don't know why Seeking Alpha continues to put up with you. You failed to get the banks nationalized despite your incredibly constant obsessing over that and the subsequent 10,000 or so articles you wrote on the topic, now you want to encourage them to fail? What is WRONG with you? You're like a cinder in someone's eye.....just a constant irritant.

Wall Street Breakfast: Must-Know News

Listen..is it just me or am I missing something? Has it REALLY been two days since that idiot Felix Salmon has written something about the "inevitable nationalization of the US banking system?" Or did he finally put himself out of OUR misery???? One can only hope. Go back to writing another set of fairy tales, Felix. It seems to be your expertise. Thanks, US Government, for saving our butts. I know nothing is free, we'll all pay this back eventually. But for today, most of us are still working and eating. Have a great day, all.

Is Bank Nationalization Still an Option?

FINALLY...I HAVE SOME ALLIES!!!!!!!!!!! I've been screaming the two commentors sentiments since the first time this idiot started his "nationalization of the banks" campaign. Felix, I actually thought I'd have at least ONE day of not reading your negative misinformed rhetoric. No such luck. Nationalization. PUT IT TO BED. FIND SOMETHING ELSE TO BEAT TO DEATH. SOME OF US ARE ACTUALLY RETIRED AND HOPING FOR THE INCOME FROM FINANCIAL STOCKS AND MUTUAL FUNDS TO CONTINUE TO PAY FOR THEIR FOOD. I hope, I mean I really really really hope, that at some point in the future, after I'm dead and buried and you're my age, that some self-appointed experts and those of your ilk, help to destroy your portfolio. It's just time for you to shut the hell up.

Why Nationalize in 2016?

klarsolo, thanks. Have a great day.

Why Nationalize in 2016?

Sugar Daddy, at least as I see it, preferred stock, even though it provides a return, doesn't give you voting rights. Common stock does. Holding less than 50% of the total common, even though the government claims it doesn't want to vote anyway (un-huh), means they do not have a controlling stake in the company. And assuming (here's hoping, anyway) that Citi survives this mess, at about $2.50 a share, the government stands to make one hell of a profit (I wonder if they pay capital gains?) if it goes up to $5 or whatever. The guarantees of $300 billion? Sorry, I don't think even GOD can help you with that one! Hope this helps a little.

Why Nationalize in 2016?

Hey Driftwood.....I'm presuming you don't have much money in the market. Vitriol is a good word. And yes, whether or not you believe it, MUCH of what's happening NOW is a result of no confidence. The crisis has hit and you're right in your assessment that this author didn't start all of this. It was greed. But there's no reason now to continue to kick and torture our prostrate economy with opinions that only do more damage. As long as no-responsibility, no-consequence, and no-brain "experts" like this one continue to spout "nationalization" and doom and gloom with absolutely no regard whatsoever to the damage they are doing to the rest of us, we will continue this downward spiral. FDR's "nothing to fear but fear itself" speech is as true today as it ever was. And spreading fear, for one's own glory is just wrong. Felix, like so many others have said, we've just had enough. Just shut the hell up until you've got something constructive to say. Kudos to the rest of you with the intestinal fortitude to tell this guy the same.

Proceeding with Nationalization: Where to Begin

And yet another voice in the wilderness is heard from. I hope you own about 25,000 shares of Citi because you and those of your ilk who keep spouting your negatives opinions are a substantial part of the problem we're now experiencing. You must be related to that other moron, Chris Dodd....oh...he's the head of the Senate Banking Committee. Another one who doesn't have to worry about his 401K or IRA or feeding his family through retirement after this mess finally comes to an end. Of course not, because people like me will be paying to feed HIS family, too. Shut up, author. Keep your opinions to yourself. We don't want to hear it anymore. It's time to turn this economy around and you are NOT helping.

The Gloom Talk from the Top Needs to Stop

Agreed...the doom and gloom HAS to stop. I'm not sure I completely agree with your overall analysis and comparison to the past (we never learn from the past anyway), but this is well thought out and you make a convincing argument. If those of you who think that attitude has nothing to do with our current mess, what happened to the market when that genius Chris Dodd said Citi needs to be nationalized. HOW IN HELL did that guy get to be, of all things, head of the Senate Banking Committee? Thanks for the insight author. Just a different opinion, more information, and another resource (for those of us who care to think about it) to help make a decision as to what to do.